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Share-based payments (Tables)

12 Months Ended

Dec. 31, 2020

Statements [Line Items]

Summary of Employee Related Share Based Compensation Expense

The Group recognized total employee-related share-based compensation expense from all plans for the years ended December 31, 2020, 2019 and 2018 as set out below:

		Year ended December 31,
		2020				2019				2018
		(Euros in thousands)
Research and development expenses			14,546				1,556				238
General and administrative expenses			10,973				460				100
Total share-based compensation			25,519				2,016				338

Share Appreciation Rights [Member]

Statements [Line Items]

Summary of Options Granted Priced Using Black Scholes for SARs, Tandem Awards, Converted Options, Matching Stock Options and Monte Carlo Option Pricing Model

		December 31,
Amounts in USD		2019				2018
Exercise price		$	1.12			$	1.12
Underlying share price		$	67.87			$	27.21
Volatility			73	%			64	%
Time period (years)			1.25				5.00
Risk free rate			1.59	%			2.77	%
Dividend yield			0.00	%			0.00	%
Combined probability of exit events			80.00	%			25.00	%

Summary of Employee Share Options

Set out below are summaries of SARs issued during 2019 and 2018:

		2019								2018
		Weighted average exercise price in USD				Number				Weighted average exercise price in USD				Number
SARs outstanding at January 1,		$	1.12				43,675			$	1.12				43,978
SARs granted							—								—
SARs forfeited			1.12				220				1.12				303
SARs outstanding at December 31,			1.12				43,455				1.12				43,675
SARs vested		$	1.12				117			$	1.12				169
SARs exercisable							—								—

2016 Tandem Awards [Member]

Statements [Line Items]

Summary of Options Granted Priced Using Black Scholes for SARs, Tandem Awards, Converted Options, Matching Stock Options and Monte Carlo Option Pricing Model

The fair value of tandem awards issued in December 2019 was based on a company valuation of $350 million.

Amounts in USD		December 2019				June 2019 - September 2019				December 2018
Exercise price in USD		$	23.82			$	18.30			$	16.65
Underlying share price in USD		$	67.87			$	16.94			$	27.21
Volatility			73	%			78	%			64	%
Time period (years)			1.25				2.10				5.00
Risk free rate			1.59	%			2.04	%			2.77	%
Dividend yield			0.00	%			0.00	%			0.00	%
Combined probability of exit events			80.00	%			60.00	%			25.00	%

Summary of Activities Under Share Based Payment Arrangement

Set out below are summaries of tandem awards issued during 2019 and 2018:

		2019								2018
		Weighted average exercise price in USD				Number				Weighted average exercise price in USD				Number
Tandem Awards outstanding at January 1,		$	16.65				74,401			$	16.65				31,880
Tandem awards granted in June to September			18.30				26,557				16.65				43,964
Tandem awards granted in December			23.82				5,447
Tandem awards forfeited			16.81				2,936				16.65				1,443
Tandem awards outstanding at December 31,			17.45				103,469				16.65				74,401
Tandem awards vested		$	16.76				16,238			$	16.65				14,350
Tandem awards exercisable							—								—
Weighted average remaining contract life (years)			8.56								9.12
Weighted average fair value of options granted in USD till September			10.27								4.51
Weighted average fair value of options granted in USD for December			53.41								—

Matching Stock Options [Member]

Statements [Line Items]

Summary of Options Granted Priced Using Black Scholes for SARs, Tandem Awards, Converted Options, Matching Stock Options and Monte Carlo Option Pricing Model

Immatics applied a Black Scholes pricing model to estimate the fair value of the Matching Stock Options, which the Group records as an expense over the four-year graded vesting period.

		As of June 30, 2020
Exercise price in USD		$	10.00
Underlying share price in USD		$	15.15
Volatility			75	%
Time period (years)			5.5
Risk free rate			0.29	%
Dividend yield			0.00	%

Summary of Employee Share Options

Set out below are summaries of Matching Stock Options issued during 2020:

		2020
		Weighted average exercise price in USD				Number
Matching Stock Options outstanding on January 1,			—				—
Matching Stock Options granted in June			10.00				1,430,818
Matching Stock Options forfeited			10.00				8,262
Matching Stock Options outstanding at December 31,			10.00				1,422,556
Matching Stock Options vested			—				—
Weighted average remaining contract life (years)			9.50
Weighted average fair value of options granted in USD for June			10.59

Converted Options [Member]

Statements [Line Items]

Summary of Options Granted Priced Using Black Scholes for SARs, Tandem Awards, Converted Options, Matching Stock Options and Monte Carlo Option Pricing Model

Immatics applied a Black Scholes pricing model to estimate the fair value of the Converted Options.

		As of June 30, 2020
Average exercise price in USD		$	2.47
Underlying share price in USD		$	15.15
Volatility			75	%
Time period (years)			5.6
Risk free rate			0.29	%
Dividend yield			0.00	%

Summary of Employee Share Options

Set out below are summaries of Converted Options issued during 2020:

		2020
		Weighted average exercise price in USD				Number
Converted Options outstanding on January 1,			—				—
Converted Options granted in June			2.49				632,384
Converted Options forfeited			1.08				37,540
Converted Options outstanding on December 31,			2.58				594,844
Converted Options vested		$	2.45				53,856
Weighted average remaining contract life (years)			7.01
Weighted average fair value of options granted in USD for June			4.83

Additional Grants Under 2020 Plan [Member]

Statements [Line Items]

Summary of Options Granted Priced Using Black Scholes for SARs, Tandem Awards, Converted Options, Matching Stock Options and Monte Carlo Option Pricing Model

Immatics applied a Black Scholes pricing model to estimate the fair value of the Service Options.

		As of June 30, 2020				As of September 14, 2020				As of December 17, 2020
Exercise price in USD		$	10.00			$	10.00			$	9.70
Underlying share price in USD		$	15.15			$	9.16			$	9.70
Volatility			75	%			79	%			84	%
Time period (years)			7.0				6.2				6.0
Risk free rate			0.29	%			0.37	%			0.49	%
Dividend yield			0.00	%			0.00	%			0.00	%

Summary of Employee Share Options

Set out below are summaries of Service Options issued during 2020:

		2020
		Weighted average exercise price in USD				Number
Service Options outstanding on January 1,			—				—
Service Options granted in June			10.00				1,087,417
Service Options granted in September			9.72				74,000
Service Options granted in December			9.70				802,149
Service Options forfeited			10.00				53,384
Service Options outstanding on December 31,			9.87				1,910,182
Service Options vested			—				—
Weighted average remaining contract life (years)			9.72
Weighted average fair value of options granted in USD for June			11.29
Weighted average fair value of options granted in USD for September			9.25
Weighted average fair value of options granted in USD for December			6.73

Performance Based Options [Member]

Statements [Line Items]

Summary of Options Granted Priced Using Black Scholes for SARs, Tandem Awards, Converted Options, Matching Stock Options and Monte Carlo Option Pricing Model

In addition to the probability of achieving the market capitalization performance criteria, the inputs used in the measurements of the fair value at grant date of the PSUs were as follows:

		As of June 30, 2020				As of September 14, 2020
Exercise price in USD		$	10.00			$	10.00
Underlying share price in USD		$	15.15			$	9.16
Volatility			79	%			78	%
Time period (years)			7.0				6.7
Risk free rate			0.66	%			0.67	%
Dividend yield			0.00	%			0.00	%

Summary of Employee Share Options

Set out below are summaries of PSUs issued during 2020:

		2020
		Weighted average exercise price in USD				Number
PSUs outstanding on January 1,			—				—
PSUs granted in June			10.00				3,644,000
PSUs granted in September			10.00				255,000
PSUs forfeited			10.00				255,000
PSUs outstanding on December 31,			10.00				3,644,000
PSUs vested			—				—
Weighted average remaining contract life (years)			9.60
Weighted average fair value of options granted in USD for June			11.10
Weighted average fair value of options granted in USD for September			6.41

X

- Definition

The disclosure of information about indirect, by reference to the fair value of the equity instruments granted, measurement of the fair value of goods or services received as consideration for the entity's share options.

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